This Startup Legend built Magicpin, a 400 Crore Company & India's #1 Savings App - Brij Bhushan

In this podcast episode, Amit Somani speaks to Brij Bhushan , Co-founder & Ex COO of magicpin , India's #1 Local Savings App & 3rd largest food delivery startup.

We are notably excited about this episode as Brij joined us as a 'Venture Partner' earlier this year and been such a significant person to work with. This candid conversation covers the highs and lows of building a business, the resilience needed to survive a crisis, and what it takes to truly lead.

An Unlikely Start, A Vision for Local Commerce

Brij’s journey to entrepreneurship was anything but traditional. Raised in a middle-class family and starting from a Tier 3 college, he shared how early challenges shaped his drive. Magicpin, which began as a social engagement platform where users posted selfies at retail locations, has grown into a powerhouse for local commerce. With over two lakh active sellers and a unique loyalty program model, Magicpin became the largest aggregator of sellers in India, catering to millions of users across the country.

Navigating Uncertainty During COVID-19

For Magicpin, the pandemic was a defining moment. Before COVID, the company had grown rapidly - scaling its team from 250 to 700 employees and reaching 10 crore in monthly revenue. But as the pandemic hit, revenue dropped to zero overnight. Brij shared how, despite the difficulty of letting go of many team members, he and his co-founder Anshoo Sharma doubled down on their commitment to Magicpin. They pivoted to delivery services, supporting local Kirana stores to get essential supplies to consumers’ homes.

“We had to redefine what survival looked like,” Brij recalls. “This was no longer about growth; it was about ensuring that we could keep the business alive.” It was this pivot that not only allowed Magicpin to survive the crisis but also created an additional revenue stream that continued to grow post-pandemic.

Leadership Lessons from the Trenches

One of the most powerful themes in Brij’s journey was the transformation of his leadership style. Building a company had made him aggressive and intense, but through self-reflection and honest feedback from colleagues, he rediscovered a more collaborative and supportive approach. "It’s easy to become tunnel-visioned," he explained. "But the real value lies in building a team that feels valued and motivated."

Brij also advocates for founders to invest in themselves by finding a leadership coach, something that helped him maintain balance and gain an unbiased perspective. “In a startup, every decision feels personal, but a coach reminds you to align your actions with your values,” he shared.

The Value of Financial Prudence

When asked for advice, Brij was clear about one thing: cash is king. He stressed that no startup should ever run out of cash and urged founders to maintain at least 12 months of runway at all times. It was this principle that gave Magicpin the flexibility to weather the unexpected blows of COVID-19 and emerge even stronger. As he put it, "You can’t control external circumstances, but you can control how long you can keep going."

Where Magicpin Stands Today

With resilience, adaptability, and a bit of boldness, Magicpin has bounced back stronger than ever, now generating over 400 crore in annual revenue. The company’s initial pivot to delivery during the pandemic has evolved into an omnichannel offering, supported by partnerships with Open Network For Digital Commerce (ONDC) and Zomato . Brij and his team have shown that while challenges are inevitable, they can also be a source of transformation.

Final Takeaways for Founders

1. Adaptability is Key: Challenges can become opportunities if you stay flexible and open to change.
2. Financial Discipline: Ensure you have sufficient runway; cash management is critical.
3. Invest in Leadership: Embrace feedback, self-reflection, and consider a coach for unbiased insights.
4. Stay Close to Customers: Magicpin’s success lies in its deep connection to its customers’ needs - the core being serving the retailers, from generating leads in offline shopping experiences to home delivery and beyond.

Listen to the full podcast episode to gain more insights from Brij’s journey and discover what it really takes to build a resilient business in the face of uncertainty. Tune in to hear about his journey, learnings, and the hard-won lessons that shaped Magicpin’s success.

0:00 - Brij's childhood and background

7:00 - The Early days of Magicpin

17:00 - GST, Jio, Pivots

30:00 - The COVID Era

38:00 - The Entrepreneurship Saga

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